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MoneyGram moving headquarters to Dallas

MoneyGram International, the St. Louis Park-based money transfer company is moving its corporate headquarters to Dallas, Texas.

The move, effective November 1, initially involves about 75 positions. By mid-2012 about 150 positions will move. The company has 2,600 employees worldwide.

MoneyGram said the change is part of the company's previously announced effort to reduce costs and streamline operations. The move brings the headquarters to an important market and the hometown of CEO Pamela Patsley, who took the top job a year ago.

Last year, MoneyGram had revenue of $1.1 billion and has posted net losses each of the past three years.